Texas Electricity Bills Skyrocket Due To Winter Storm : Live Updates: Winter Storms 2021

February 21, 2021 ☼ texaspower-failurederegulation

Source: NPR - Link

Millions of Texas residents suffered last week when a winter storm caused a statewide electrical grid failure. But those who had power, even intermittently, are also paying a price — literally.

Many residents face enormous bills for the electricity they used during the storm.

Residents with variable-rate power plans are being hit the hardest. Such plans charge different prices for electricity depending on how much demand there is. The more demand, the higher the price.

I predicted this would happen when I heard about how they deregulated. I doubt that Texas will change. There will be a lot of noise, and perhaps a bailout for the hardest hit, but in the end nothing will change.